Impact Challenge at SEA

SEE THE SEA(South-EastAsia),
SAIL TO INNOVATION TOGETHER

—30.06.2024

King Sejong and Jang Yeong-sil Prize

WE ARE LOOKING FOR IMPACT STARTUPS IN VIETNAM THAT AIM TO EXTEND THEIR INFLUENCE BEYOND THE COUNTRY, ACHIEVING SIGNIFICANT INNOVATION BY SOLVING EMERGING SOCIAL PROBLEMS THROUGH BUSINESS.

Impact Challenge At SEA is a competition designed to discover and invest in promising impact startups in Vietnam that propose climate solutions or promote the transition towards a digital economy.

THEME

IMPACT STARTSUPS THAT CONTRIBUTE TO:
●Addressing environmental issue
●Enhancing digital access and inclusion to drive social/economic value

GREEN

DIGITAL

Startups with solutions for environmental sustainability

Clean Energy, Resource Management, Sustainable Practices, Environmental Protection, Climate and Biodiversity Conservation, etc.

Farms crickets and converts them into protein for food and pet food, addressing malnutrition and improving efficiency, while boosting farmers' incomes and promoting sustainable food production.

Develops sand batteries that store solar power, replacing fossil fuels in agricultural drying and home heating.

Develops an eco-friendly resource circulation solution recycling discarded fishing nets to address ocean pollution.

Contributes to the sustainable fashion industry by manufacturing and selling shoes and fashion products using eco-friendly materials.

Upcycles by-products from coffee and peanuts, transforming them into biochar, organic fertilizers, and bioplastics.

Aims to reduce plastic waste and promote an eco-friendly culture by offering a rental and cleaning service for reusable, environmentally-friendly containers.

Startups enhancing digital access and inclusion to drive social/economic value

A platform and software for field workers and companies, providing services such as job matching, digital time attendance, and automated payroll to enhance labor market efficiency and strengthen connections between workers and businesses.

An online edu-tech platform that provides opportunities for skill development, career advancement, and equal educational access.

A home demand service platform that provides flexible job opportunities and income generation for mothers

Offers game-based, non-face-to-face learning solutions that enable children to learn without geographic and contextual constraints, helping to mitigate gaps in access to education.

Develops a low-cost, play-based braille learning machine to help mitigate the illiteracy gap among the blind through innovative technology.

ELIGIBILITY

Impact startups engaged in environmental or digital technology solutions

● Applicants must be corporations or cooperatives primarily operating and creating impact in Vietnam.
● The representative of the company must be a Vietnamese national.

•Previous ICAS applicants may reapply, but past prize winners are ineligible.
•To receive investment, selected startups must establish a Singapore holding/parent company prior to receiving funding.
•The representative can be either the legal representative, the CEO, or a co-founder.

Awards & Benefits

Details of Benefits will differ according to the selection stage.

PRIZES

• 1st Place: $40,000
• 2nd Place: $15,000
• 3rd - 10th Place: $3,000
• 11th - 20th Place: $1,000
• World Vision Prize: $20,000

INVESTMENT AND ADDITIONAL PRIZE: $500,000 MAX

• 1 company from the Top 20 will be selected for investment up to $400,000
• Up to $100,000 additional prize

No company will be selected for investment if none of the candidates meet the required criteria

Accelerating Programs

• A comprehensive online course series with 80 lectures dedicated to the growth of impact businesses, integrating social and economic value.
• Personalized mentoring to help startups develop impactful and sustainable business models.

Impact Measurement Program

• Workshops and education on measuring and managing impact
• A self-disclosure platform that allows companies to self-assess and report their social impact.

Partnership & Cooperation Opportunities

• Opportunities for ESG open innovation through partnerships with large companies in Korea.
• Support for technology transfer from Korean social ventures and the development of joint venture businesses with participants.

Follow-Up Investment

• Potential opportunities for follow-up investments in collaboration with global impact investors.

SCROLL

ROUND1

Document Screening

Top20 and Top10 will be selected from all applicants

Awards:
Top 11-20: $1,000
(10 companies)

ROUND2

IR Pitching

The Top 10 companies from Round 1 will pitch.
* Participation in the pitching day is essential for the selected companies.

Awards:
3rd - 10th Place: $3,000
(8 companies)

Awards:
2nd Place: $15,000
(1 company)

Awards:
1st Place: $40,000
(1 company)

World Vision Prize: $20,000

Multiple awards permitted for companies ranked in the Top 1-20.
Participation in the pitching day is essential for the selected companies.

Final Investment Selection

One company from the Top 20 will be chosen for investment.

Investment Package:
• Up to $500,000 in investment & additional prizes
• Impact Measurement Report

2024 TIMELINE

Application Period

June 03 - June 30

ROUND 1

Document screening

Late July

ROUND 2

IR Pitching Competition

August 14

Accelerating Program

For Top2 Companies

September - November

Final Review

November

Final Investee Selection

Second half of 2024

The schedule is subject to change.

For more information, please check the FAQ Page.

If you can’t find what you’re looking for, please contact us at info@impactchallengeatsea.com.

About Impact Challenge at SEA(ICAS)

Launched in 2022 by Impact Square, ICAS is a pioneering initiative supporting and investing in promising impact startups across Southeast Asia. Each year, through an open call for proposals, ICAS selects over 20 startups and provides them with investment capital, accelerator programs, and social value measurement to drive their growth and amplify their impact.

ICAS fosters cross-regional collaboration by partnering with agencies, investors, NGOs, and corporations, connecting startups to funding opportunities and key ecosystem stakeholders. Through these efforts, ICAS aims to expand the impact ecosystem and catalyze innovations addressing critical challenges in Southeast Asia.

CO-HOSTS

IMPACT SQUARE is an Impact Accelerator dedicated to Impact Business making a great breakthrough against fundamental conflicts between impact and economic value of our world.

Our mission is to make more people consume impact business, which drives us to provide a wide range of services from accelerating, impact measuring to community building.
We have been continuously developing cases of how solving social or environmental problems can become a company’s competitiveness.

World Vision is a Christian relief, development, and advocacy non-governmental organization focused on children. Since 1950, we have been working with children, families, and communities to help them reach their full potential by tackling the root causes of poverty and injustice. In 2023, our 34,000 staff reached over 300 million children in more than 100 countries, bringing real, lasting change and raising a total revenue of $3.46 billion.

In Vietnam, as a global leading organization, we work in 14 provinces and cities, specializing in livelihood, health, microfinance, and child protection. We contribute to child well-being by partnering with communities and governments at all levels.

MerryYear International(MYI) is an Non-Governmental Organization specialized in social economy, agriculture and microcredit sectors.

Working in the Mekong Delta area
Since 2011, MYI has been working in Mekong Delta area to support vulnerable people, small shop owners and government officers.
Based on the endeavor, MYI could aggregate over $500,000 funds with local people.

Nextrans is an investment attraction consulting firm that seeks to change the world and form a global network of entrepreneurs with passion and technology. It aims to maximize corporate capabilities by connecting the large corporations to startups around the world that need resources such as preparation for investment, network, and business connection.

Expertise in Investments in Vietnam
Since 2004, Nextrans has supported about 100 startups and has been investing in the Vietnamese market since 2015. Recently, Nextrans has created and invested in a fund worth $8million in Vietnam and has invested in about 36 Vietnamese companies so far.

Co-created in 2017 by the United Nations Development Programme (UNDP) and the Citi Foundation, Youth Co:Lab aims to establish a common agenda for countries in the Asia-Pacific region to empower and invest in youth so that they can accelerate the implementation of the Sustainable Development Goals (SDGs) through leadership, social innovation and entrepreneurship.

Read more about Youth Co:Lab here.

ADVISOR